Technical analysis

NZDCAD Wave Analysis 26 October, 2020

NZDCAD Wave Analysis 26 October, 2020

• NZDCAD rising inside impulse wave (3)

• Likely to rise to 0.8850

NZDCAD continues to rise inside the medium-term impulse wave (3) which started earlier from the support area lying between the support levels 0.8600 (former multi-month low from August), lower daily Bollinger band and the support trendline of the daily down channel from September.

The price earlier broke the upper resistance trendline of the aforementioned down channel from September – which accelerated the active impulse wave (3).

NZDCAD is likely to rise further toward the next resistance level 0.8850 (top of the previous minor correction B from the end of September).

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